IBA, Zambales — The Province of Zambales gained recognition as among the top 10 performing provinces in the country in terms of local source revenues for the fiscal years 2022 and 2023, clinching three top slots in ceremonies held by the Department of Finance on Oct. 9 at Seda Manila Bay Hotel in Parañaque City.

The top-performing cities, municipalities and provinces were recognized by the DoF’s Bureau of Local Government Finance (BLGF) and were ranked based on local source revenues (LSR) in nominal terms; ratio of LSR to total current operating income (TCOI); year-on-year growth in LSR; and total current operating expenditures (TCOE) per capita.

LSR, according to the BLGF, “is composed of tax revenues such as real property tax, business tax, and other taxes), and non-tax revenues that include regulatory fees, service/user charges, receipts from economic enterprise, and other receipts.

Zambales was cited as cited as No. 2 in Year-On-Year Growth in Local Source Revenues among provinces for the Fiscal Year 2022 with a growth percentage of 80.21%. Quezon Province was No. 1 with 86.79%, while Cavite was No. 3 with 60.00%.

In terms of Ratio of Local Source Revenues to Total Current Operating Income, Zambales was No. 5 in FY-2023 with 32.74%. Bataan held the top slot with 53.12%, while Pampanga was second with 39.65%.

Zambales also secured the sixth place for Year-On-Year Growth in Local Source Revenues in FY-2023 with a growth percentage of 56.89. The top placer in this category was Negros Occidental with 163.66%, followed by Camarines Sur with 126.72%.

Meanwhile, the Municipality of Masinloc received four citations in the same ceremony: No. 4 in terms of Ratio of Local Source Revenues to Total Current Operating Income among municipalities for FY-2022, with 64.96%; No. 5 in Ratio of Local Source Revenues to Total Current Operating Income for FY-2023, with 71.45%; No. 8 in Local Source Revenues in Nominal Terms for FY2023, with P622.04 million; and No. 9 in Local Source Revenues in Nominal Terms for FY-2022, with P530.33 million.

Another winner from Zambales was Santa Cruz town, which was No. 6 for Year-On-Year Growth in Local Source Revenues among municipalities, with a growth rate of 232.26%. For Year-On-Year Growth in Local Source Revenues for FY-2023, meanwhile, Botolan, Zambales secured the top 6 place with 262.02%.

The City of Olongapo was also recognized as No. 4 among highly urbanized cities for Year-On-Year Growth in Local Source Revenues in FY-2023 with 21.30%. — Taktikom News & Features